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Chinese Lifestyles 2014 - Embracing the Change April 2014

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Albany, NY -- (ReleaseWire) -- 05/06/2014 -- Operators need to re-adjust their products and services package to target the demand of the mass consumers rather than just the lucrative customers. Chinese aspiration to lead a healthy lifestyle is indeed another factor to direct their consumption to. Increasing average income indicates that Chinese are becoming more willing to pay for better quality to ensure improvement in their lifestyle as they have more disposable incomes.

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Table of Content

Introduction

Methodology
Regional classifications
Abbreviations

Executive Summary

Income growth drives consumer spending
Figure 1: Changes in spending over the past year, December 2013
Anti-extravagance campaign helps nurture sustainable consumption
Saving is still number one priority for all
The top aspiration is to lead a healthier lifestyle
Figure 2: Personal goals for 2014, December 2013
Family-centric is a powerful marketing tool
Growing interest in holidays – a new essential horizon in consumer’s lifestyle
Figure 3: Fastest-growing market sectors, at current prices, by % growth, 2013-18

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China Today – The Economy

Key points
What we think
China economy reforms and is set for more stable growth
Figure 4: Annual GDP and year-on-year growth rate, 2004-13
Regional economic growth
Eastern Region
Figure 5: GDP and growth rate in Eastern region, 2013
Northeast Region
Figure 6: GDP and growth rate in Northeast region, 2013
Central Region
Figure 7: GDP and growth rate in Central region, 2013
Western Region
Figure 8: GDP and growth rate in Western region, 2013

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Growing per capita income drives consumption
Figure 9: Per capita income level in rural and urban, China, 2008-13
Figure 10: CAGR for per capita annual income, disposable income and cash living expenditure for consumption, by region, 2009-12
China aims to drive sustainable domestic consumption
Figure 11: Retail sales and annual growth rate, at current prices, 2008-13
Saving for the future remains important, Chinese contribute more income into savings
Figure 12: Chinese’s savings deposit and income level, 2008-13
Spring Festival spending
Figure 13: National retail and catering sales during Chinese New Year in China, 2009-14

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